Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Sank Today

Cruise ship stocks declined on Wednesday ahead of Norwegian Cruise Line Holdings' (NYSE: NCLH) upcoming earnings report on Thursday morning. Shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian fell 7%, 5%, and 7%, respectively.

Following comments by health officials, investors appear to be growing more concerned that a vaccine for COVID-19 could take longer than hoped.

On Tuesday, Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told a Senate committee that a vaccine or widely available treatment for the disease caused by the coronavirus would most likely not be ready by the fall. Fauci did express hope that a vaccine could be found in the next year or two, though he cautioned, "There's no guarantee that the vaccine is actually going to be effective."

Source Fool.com